Romania's BRD bank net profit jumps 27.8 pct y/y in Q1

BRD Groupe Societe Generale SA

04/05/2018 06:22

BUCHAREST, May 4 (Reuters) - Romanian lender BRD Groupe
Societe Generale  ROBRD.BX 
    * Says the bank records net profit of 392.4 million lei 
($100.86
million) in the first quarter, up 27.8 percent on the year,
while the BRD Group's net profit was 414 million lei, up 26
percent, driven by "healthy revenue generation, quasi-stable
operating expenses and positive cost of risk."
    * Says the number of customers rose by 37,000, reflecting a
5.0
percent rise in net loans and 6.0 percent rise in deposits.
    * Says the ratio of non-performing loans fell to 6.2 percent
at
the end of March from 10.3 percent in the same period of last
year.  
    * Says BRD maintained a capital adequacy ratio of 19.3
percent.
    * Francois Bloch, CEO of BRD Groupe Societe Generale: "The
first
quarter of 2018 was very dynamic as shown by the continuous
increase in loans, deposits and transaction volumes which,
together with the favorable interest rate context, translated
into a double-digit increase in net banking income."    

Further company coverage: ROBRD.BX
($1 = 3.8905 lei)

 (Reporting by Luiza Ilie)
 ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266))